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USA election result hits Paddy Power Betfair

USA election result hits Paddy Power Betfair

Updating investors, Paddy Power Betfair announced on Monday that revenue in FY2016 was up 18% year-on-year to £1,551m. The Group expects full-year underlying EBITDA to be around the mid-point of the previously guided range of 390 to 405 million pounds, notwithstanding worse than expected gross win margins in November and December.

Sports revenue looks set to increase by 19% year-on-year to £1.12 billion, while gaming revenue should climb 14% to £353 million.

Today, the UK-based online betting operator Paddy Power Betfair revealed its post close trading update for the fourth fiscal quarter of 2016, which ended on December 31st, 2016 as well as for the whole fiscal year ended at the same date. The benefits of the Group's geographical diversification were highlighted by a strong performance from Sportsbet in Australia, where Q4 stakes growth of 25% and revenue growth of 18% (both in local currency) helped to partially offset the poor gross win margins in our European businesses.

European Central Bank keeps policy measures unchanged
He said it will continue, as announced previous year , until December 2017, but be cut from €80bn to €60bn per month from March. But the defining moments for the dollar this week both surrounded Donald Trump.

Since our Q3 trading update, the Group continued to see good sportsbook staking growth but results favoured customers.

Paddy Power lost big on the United States presidential election - it faced a €4.1m pay-out on winning Trump bets after it already paid €880,000 to Clinton backers. It totaled £1.198 billion in 2016, up 19% from the previous year. However, the unfavorable effects were to a certain extent offset by lowered marketing costs.

Paddy also placed seventh for a TV spot in which Scottish punters declared they weren't upset over their team failing to qualify for the UEFA Euro 2016 tournament because they could still bet on England to lose.